IEC Electronics Corp (IEC) Earns Buy Rating from Analysts at Maxim Group
Maxim Group started coverage on shares of IEC Electronics Corp (NYSE:IEC) in a report released on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $7.00 price target on the technology company’s stock.
A number of other equities analysts have also recently commented on IEC. Noble Financial restated a buy rating on shares of IEC Electronics Corp in a report on Saturday, May 13th. TheStreet cut IEC Electronics Corp from a c rating to a d+ rating in a report on Monday, June 12th. Finally, Zacks Investment Research cut IEC Electronics Corp from a hold rating to a sell rating in a report on Thursday, July 6th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $4.82.
Shares of IEC Electronics Corp (IEC) opened at 4.28 on Thursday. IEC Electronics Corp has a 1-year low of $3.21 and a 1-year high of $5.17. The company has a 50-day moving average of $3.94 and a 200-day moving average of $3.75. The stock’s market capitalization is $44.17 million.
IEC Electronics Corp (NYSE:IEC) last announced its earnings results on Wednesday, August 9th. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.07. IEC Electronics Corp had a negative return on equity of 19.12% and a negative net margin of 2.88%. The company had revenue of $26.49 million during the quarter, compared to analysts’ expectations of $26 million. On average, equities research analysts expect that IEC Electronics Corp will post $0.08 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in IEC. Walthausen & Co. LLC boosted its position in shares of IEC Electronics Corp by 98.6% in the second quarter. Walthausen & Co. LLC now owns 158,870 shares of the technology company’s stock valued at $572,000 after buying an additional 78,870 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of IEC Electronics Corp by 17.6% in the second quarter. Punch & Associates Investment Management Inc. now owns 321,200 shares of the technology company’s stock valued at $1,156,000 after buying an additional 48,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of IEC Electronics Corp by 12.4% in the fourth quarter. Renaissance Technologies LLC now owns 289,300 shares of the technology company’s stock valued at $1,033,000 after buying an additional 32,000 shares during the last quarter.
IEC Electronics Corp Company Profile
IEC Electronics Corp. provides electronic manufacturing services (EMS) to a range of technology companies that produce life-saving and mission critical products for the medical, industrial, aerospace and defense sectors. The Company specializes in delivering technical solutions for the custom manufacture of full system assemblies by providing on-site analytical testing laboratories, custom design and test engineering services combined with an array of manufacturing services encompassing electronics, interconnect solutions and precision metalworking.
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